Canwest, debtholders still talking

WINNIPEG – Another day, another busted deadline. Canwest Global Communications announced late Tuesday that its subsidiary, Canwest Media, is continuing discussions with the members of an ad hoc committee of 8% noteholders of CMI regarding a recapitalization transaction. “The holders of the new 12% senior secured notes of CMI and Canwest Television Limited Partnership as well as CIT Business Credit Canada Inc., the provider of a senior secured revolving asset-based loan facility to CMI, have agreed to extend to July 17, 2009, the date by which CMI must reach an agreement in principle with members of the Ad Hoc Committee...